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5 money management principles
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How to control your trading risks
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If your goal is to succeed in trading, it’s key to improve your understanding of the market and follow basic money management principles.
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These five tips can help you assess and control the risks of trading.
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Develop the right strategy
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Your strategy should be in line with your financial goals, skill level, risk tolerance and trading style.
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Don’t forget to set up stop loss and take profit levels so your trade closes at the right moment.
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Explore the instruments you trade
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Are you going to trade on oil?
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Even a basic understanding of how this market works can give you useful insights into potential price movements.
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Trade on multiple instruments
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If you focus on a single instrument, you depend on its performance for success.
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A well-diversified trading portfolio that combines instruments with low or negative correlation lets you mitigate potential risks.
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Don’t use funds you cannot afford to lose
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Your emergency fund and retirement savings should never be used for trading. The same applies to the money allocated for mortgage payments, education, and other necessities.
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Educate yourself
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Education is vital for a trader who seeks to identify and reduce risks related to financial markets.
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Study technical and fundamental analyses to make your trading decisions more conscious.
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Start today
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Apply these money management principles when trading on Doto to reduce your risks and take the positives from any market situation.
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Open trade
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Trade responsibly: Trading forex and CFDs is highly speculative, carries an inherent risk of loss, and is not suitable for all investors. Before using our services, you are strongly advised to read and ensure that you understand the relevant risk disclosures and warnings here. This email may contain confidential or privileged information. You received this email by accepting the terms of our Privacy Policy. If you didn’t create this account or received this email in error, please do not forward it to anyone else, erase all copies and attachments, and notify us.
Doto Global Ltd is licensed and regulated as an Investment Dealer by the Financial Services Commission (FSC) of Mauritius, under license number C119023978.
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